- Filipinos could continue feeling the pinch at the grocery and market this August, with the Bangko Sentral ng Pilipinas (BSP) expecting inflation to remain between 5.5% and 6.5%.
- The central bank expects prices of rice, vegetables, fruits, and fish to remain key sources of pressure, with unfavorable weather conditions potentially affecting supplies and pushing prices higher.
- Fuel costs could also keep adding to household expenses, which could eventually affect transportation and the prices of goods that need to be delivered.
Filipinos could continue feeling the pinch at the grocery and market this August, with the Bangko Sentral ng Pilipinas (BSP) expecting inflation to remain between 5.5% and 6.5%.
The central bank expects prices of rice, vegetables, fruits, and fish to remain key sources of pressure, with unfavorable weather conditions potentially affecting supplies and pushing prices higher.
Fuel costs could also keep adding to household expenses, which could eventually affect transportation and the prices of goods that need to be delivered.
There are some factors that could provide relief. Meat prices and electricity rates are expected to ease, while a stronger peso could help reduce the cost of some imported goods.
The BSP said it will continue monitoring incoming inflation and economic data, while assessing how developments in the Middle East and recent weather disturbances could affect prices and the broader economy.
